How the U.S. Oil Rig Price Chart Is Shifting

Oil rig prices have gone up again in recent weeks.Last week, the benchmark Brent crude oil contract climbed by nearly 2% to $54.89 per barrel on Tuesday, according to Bloomberg data.Brent crude was up more than 2.5% from a week earlier.It was the fourth straight week of gains.That’s an increase of more than 25%.That’s up […]

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Oil price chart: How the oil cartel keeps oil cheap

OPEC’s oil cartel is on the brink of collapse, with some members cutting production or leaving the cartel altogether.The cartel is a cartel in name only.The oil cartel itself is a huge business, with oil being a major driver of global economic activity.Its members, which include Saudi Arabia, Iran, Russia, Venezuela and Canada, make up […]

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Oil prices are down, but not by as much as you might think

Oil prices for August have plunged by almost half, and now sit just above $50 per barrel, but you’re probably not surprised.The main reason for that decline is a sharp drop in global oil demand.And while global oil production is now down, the world is still importing oil at a rate of about 2.7 million […]

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